BUSINESS
Equity indices open marginally high
India's key equity indices -- Sensex and Nifty -- traded marginally higher during the early trade on Friday. At 9.44 a.m., Sensex was 0.1 per cent or 69 points up at 58,638 points, whereas Nifty 0.2 per cent or 35 points up at 17,500 points. "On the positive side, the negative real returns from fixed income are prompting the increasing tribe of retail investors to pour more money into Aequity.
Despite Covid, HAL revenues touch record high in FY 2021-22
"Despite the challenges of the second wave of Covid-19 during the first quarter of the year and the consequent production loss, the Company could meet the targeted revenue growth with improved performance during the balance period of the year," said R. Madhavan, CMD, HAL. The second wave of Covid-19 had compelled the company to declare a phased lockdown at various divisions during April and May 2021.
India's Apr-Feb fiscal deficit reaches over 82% of FY22 RE target
As per the data furnished by the Controller General of Accounts, the fiscal deficit -- the difference between revenue and expenditure -- for the April-February 2021-22 period stood at Rs 13,16,595 crore (Rs 13.16 lakh crore), or 82.of the revised estimates (RE). The FY22 deficit has been pegged at Rs 1,591,089 crore (Rs 15.91 lakh crore). The CGA data showed that the Central government's total expenditure stood at Rs 31,43,875 crore while total receipts were Rs 18,27,280 crore.
Low base, healthy demand lift India's Feb core sector growth
The growth rate of the eight core industries in February 2022 rose to a four-month high of 5.8 per cent from 4 per cent reported in January 2022. The Index of Eight Core Industries' (ICI) index reading rose on a year-on-year basis, against (-) 3.3 per cent during February 2021.
Centre to borrow Rs 8.45 lakh crore in H1FY23
The Ministry of Finance said the Centre is estimated to make a gross market borrowing of Rs 14.31 lakh crore for FY23. The Centre in consultation with the Reserve Bank of India, has finalised its borrowing program for the first half (H1) of FY 2022-23. As per Union Budget 2022-23, the budgeted gross market borrowing through dated securities for the FY 2022-23 is Rs 14,95,000 crore
India's Q3FY22 current account deficit at $23 bn
A wider trade deficit on the back of expensive commodities negatively impacted the current account. The current account was in a deficit of $9.9 billion in Q2FY22. On a YoY basis, the country's Balance of Payments was in a deficit of $2.2 billion in Q3FY21.
World's biggest banks 'continue' to pour billions into fossil fuel
The report, released on Thursday, documents that in the six years since the Paris Agreement was adopted, the world's 60 largest private banks financed fossil fuels with $4.6 trillion, with $742 billion in 2021 alone. 2021 fossil fuel financing numbers remained above 2016 levels, when the Paris Agreement was signed.
Subdued global cues pull market lower; healthcare stocks fall
Subdued global cues dampened India's equity indices -- S&P BSE Sensex and NSE Nifty50 -- on Thursday. Both the indices closed marginally lower after opening in the positive territory. Globally, markets tanked after inconclusive talks between Russia and Ukraine and weak Chinese manufacturing data. On the domestic front, heavy selling pressure was witnessed in the healthcare stocks.
Airtel joins Tech Mahindra to develop 5G use cases in India
Airtel and Tech Mahindra will set up a joint 5G innovation lab for developing 'Make in India' use cases for the domestic and global markets. "With proven technology capabilities and deep customer trust enjoyed by the two brands, we believe this is a win-win partnership," said Ganesh Lakshminarayanan, CEO-Enterprise Business, Bharti Airtel.
India registers 162% growth in EV sales: Gadkari
Union Minister for Road Transport & Highways, Nitin Gadkari on Thursday in the Lok Sabha said that India has registered overall 162 per cent growth in the sales of electric vehicles this year. Responding to a question during Question Hour, Gadkari informed the house that on a year-over-year basis, the sales has risen. Union Minister informed the house that a total 10,95,746 electric vehicles were registered in India with 1,742 charging stations operable as on March 13 this year.
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